Banque de France

The Banque de France is the central bank of France; it is linked to the European Central Bank (ECB). Its main charge is to implement the interest rate policy of the European System of Central Banks (ESCB).

History

• 1716 John Law opens Banque Générale
• 1718 Banque Generale is acquired by the government and renamed Banque Royale
• 1800 Creation of the Banque de France
• 1808-1936 The Bank's notes became legal tender; expansion of the branch network
• 1936-1945 Nationalization
• 1973 Rewriting of the Bank's statutes
• 1993 A landmark reform granted the Bank independence, in order to ensure price stability, regardless of domestic politics. This reform cleared the path for the European monetary union.
• 1998 Entered the European System of Central Banks

This timeline is based largely on the official Banque de France website (http://www.banque-france.fr/gb/banque/main.htm ).

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